Agri-tech business Pro Cam UK has agreed a new deal for 4,300 sq ft of space at Life Science REIT’s Building 2030 at Cambourne Park Science & Technology Campus.
The company is relocating from Building 2020, where it currently occupies 7,400 sq ft. Pro Cam has agreed a new five-year lease at a rent of £25/sq ft – an 8.2% increase on its current rent of £23.10/sq ft. The rent will increase to £30/sq ft in year four.
The space Pro Cam is vacating on the second floor at Building 2020 is currently being converted into four fully-fitted labs, which are due to complete in Q424.
Ian Harris, director of asset management at Ironstone Asset Management, Life Science REIT’s investment adviser, said: “Pro Cam is a great example of the diversity of life science occupier we are attracting to the park, and supporting existing occupiers with their space requirements as they evolve, is a key element of our strategy. Pro Cam’s move also creates a future opportunity to do more fully fitted lab space, which delivers attractive returns for the company and further establishes Cambourne as a major life sciences destination.”
